On December 6, 2023, Cazoo Group Ltd closed the transaction. The company will pay interest at a rate of 6% per annum, with a minimum of 4% per annum payable in cash and, at the option of the Issuer, up to 2% per annum payable in kind. The new notes will mature on February 16, 2027, unless earlier redeemed or repurchased in accordance with the terms of the new notes.